New Procedure of Notaries' Certification of Mortgage, Property Disposal and Pledge Agreements
The Ministry of Justice, with its Order # 703/5 "On Amendments to Regulations on Notarial Acts Accomplishment in Ukraine" dated August 29th 2007, has approved new procedures of notaries' certification of mortgage contracts, property disposal and pledge agreements.
In particular, among others, the new Regulations ratify the following amendments:
- notaries' certification of property disposal and pledge agreements in case the right of ownership for the property is taken to be, but has not been acquired for the date of the agreement's conclusion;
- the procedure of certification of mortgage contracts for unfinished real estate;
- notaries' certification of property disposal and pledge agreements in case the property secures a debt.
According to a notice of Mr. Lavrynovych, Ministry of Justice, the amendments enlarge the scope of conclusion of mortgage, property disposal and pledge agreements, including as for the real estate.
The changes are directed to the state registration and will become in force 10 days after they are made public.
